Abstract: Many more international arbitrations could be amicably settled if greater use were made of the “sealed settlement offer” (“Sealed Offer”) procedure derived from the English common law. But this has not happened because parties could not be confident a Sealed Offer would remain confidential. However, thanks to a new initiative of the International Court of Arbitration of the International Chamber of Commerce (“ICC”), this confidentiality problem may now be resolved. The article below describes the Sealed Offer procedure, the ICC Rules of Arbitration regarding allocation of costs, how Sealed Offers may be used in ICC arbitration to influence the allocation of costs and the ICC’s new procedure for protecting the confidentiality of the Sealed Offer contained in an ICC Note to Parties and Arbitral Tribunals dated 1 March 2017. Finally, the article includes as an appendix a sample Sealed Offer letter.